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REVIEW SUMMARY

Platform One International

Platform One is a UK and international investment platform service.

It has been designed to deliver a secure, high quality investment platform for the UK and international marketplace.

Via Platform One, advisers and their clients from around the world can access the benefits of a UK regulated wrap platform.

The service enables financial advisers to consolidate and manage all their high net worth clients’ investments in one place – hence the term ‘wrap’ platform.

Platform One's service is only available through a financial adviser. 
Our Verdict
A Closer Look
FAQs
Customer Reviews

Platform One claims provide benefits of a UK regulated wrap platform, where RDR (Retail Distribution Review) style remuneration is available to international advisers and clients.

In Europe, countries such as Ireland and Switzerland are looking at the possible introduction of a RDR-type regulation - making this service appealing to advisers who want to positively anticipate such a change and stay ahead of the game in their current local market.

Platform One says that they offer a financially secure, online investment consolidation service with access to products.

Platform One gives advisers online access to client portfolios via a secure and intuitive system that they have developed themselves and own the rights to.

In this system, advisers can view their holdings and valuations, both new and older history. This is accessible from all around the world at any given point of time. Platform One is able to show consolidated assets for both UK and offshore investments.

Once an adviser is registered on Platform One's system, they will receive their own secure login credentials and be able to carry out the following main functions:

  • Perform client and account specific searches
  • Create illustrations
  • Trade on a client’s account (buy/sell/switch)
  • Obtain updates on transfers in progress
  • Access their electronic document library
  • Access the fund library (provided by Morningstar)
  • Create current and historic valuations

The Platform One International annual charges* as per their fact sheet, are as follows:

CHARGES
Annual Platform
Charge		 Balances up to
€1m		 On balances
between
€1m and €3m		 On balances
between
€3m and €5m
0.45%
(€300 minimum)		 0.39% 0.33%
Annual Portfolio Charge €36.00 payable annually in advance.
(For accounts opened on or after 1st July, the fee is reduced to €18.00 for the first year)

 

CHARGES  
Annual Platform
Charge		 On balances
in excess
of €5m		 Charge
Frequency
0.30% Deducted
Quarterly in
arrears
Annual Portfolio Charge
€36.00 payable annually in advance.
(For accounts opened on or after 1st July, the fee is reduced to €18.00 for the first year)


*You can find more details about the dealing charges for investments in the FAQs section of the review.

Please note that these charges can change from time to time and this is only meant to give you a rough idea. We would recommend contacting Platform One directly for the latest rates.

Key features of Platform One include:

  1. Whole of market & open architecture
  2. Investments held securely by Banque de Luxembourg
  3. A wide range of wrappers from GIAs and bonds to SIPPs, QROPs and trust accounts – full list in the factsheet
  4. Invest with fund managers, mutual funds, investment trusts, ETFs, structured products and equities
  5. Nil initial fund fee & 100% fund rebates credited to the client’s cash account
  6. Online access for adviser, client & trustee
  7. Online trading
  8. Create personal reports
  9. Fund comparison tool
  10. Illustration tools
  11. Cash management service
  12. Cash and payments in six main currencies
  13. Dedicated Client Service Team- with English language support
  14. Specialist products and services for HNW clients
  15. Platform One is authorised and regulated by the FCA
  16. Passported throughout the EU
NOTE:
  • The UK service is available to authorised UK and offshore advisers requiring a platform for client assets held in the UK. This means transparent fee-based Retail Distribution Review (RDR) compliant solutions.
  • Platform One claims to have no initial fund fee and 100% of any fund annual management charge rebates made by the fund manager are credited to the underlying client’s cash account.
  • The charges applicable to clients will depend on the financial advisers, as they offer different charging structures largely linked to the amount of commission or earnings being taken by the third party salesman or adviser. 
  • We would highly recommend reading the 'expert verdict' section of this review to make an informed decision.

Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:

  • Academic evidence only shared with a select few firms across the world
  • A real-life example of why you should never try to outguess the market
  • Why a fund's past performance is not enough to predict future returns
  • Why you need to focus on what you can control and why this leads to a better investment experience
  • Why you should accept the markets for what they are
  • What can impact behaviour and make people seek instant gratification

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The Pros

> UK-based
> Experienced
> RDR option available
> Full access in the early years without penalty
> No term required, therefore no surrender penalties
> Provides access to funds, passive trackers and equities

The Cons

> Not very cost effective
> International version pays commission
> Not so good for non-UK residents/expats
> Technology used by competitors is more sophisticated.
> Outside of a pension, many countries do not recognise any tax concessions
> Regular trading is more difficult and could become expensive
Is Platform One International open for all advisers?
The advisers served by Platform One International include:
  • Clients of UK advisers and advisers in RDR jurisdictions with offshore assets
  • Clients of offshore advisers who prefer an explicit fee service
  • Offshore advisers building value with a fee-based revenue model
What are the dealing charges for mutual funds/unit trusts?

The dealing charges for mutual funds/unit trusts as stated by Platform One International are as follows:

DEALING CHARGES FOR MUTUAL FUNDS/UNIT TRUSTS
Dealing type Cost Charge frequency
Electronically traded funds 0.20% (minimum charge €5/maximum charge €25) Per deal
Manually traded funds 0.20% (Minimum charge €5/maximum charge €50) Per deal
Custody charge £0.00 n/a

 

NOTE: These charges can be changed from time to time and we would recommend checking their website for the latest information.

What are Platform One International's dealing charges for other types of investments?

The dealing charges for other types of investments as stated by Platform One International are as follows:

DEALING CHARGES FOR OTHER TYPES OF INVESTMENT
Dealing type Cost Charge frequency
Exchange Traded Funds 0.30% (minimum charge €35/no maximum charge) Per deal
Equities/Bonds/Investment Trusts or Structured
Products		 0.75% (minimum charge €50/no maximum charge) Per deal
Custody charge 0.10% p.a. (minimum €4 p.a.) Per holding

 

NOTE: These charges can be changed from time to time and we would recommend checking their website for the latest information.

What are the main features of the Overseas Wrap Platform?

The features of the Overseas Wrap Platform can be summarised below:

  • Platform One says that it has been developed to suit the differing requirements of advisers and their clients from Europe and Africa to the Middle and Far East.
  • All the different international tax environments, regulatory regimes and adviser business models can be accommodated in this service.
  • This service uses Platform One's own technology which in turn helps them adapts to local client needs and  requirements.
  • Platform One offers access to a choice of over 5,000 collective funds as well as bonds, UK and international equities and cash.
  • Assets can be held and traded in all of the major international currencies used.
What are the products offered by Platform One International?

The products offered are:

  • Investment accounts
  • SIPPs
  • QROPs/QNUPs
  • Equities traded on international markets
  • Offshore bonds
  • Specialist investment products
  • Regular Savings Plans
What does their UK wrap platform offer advisers?

Platform One International says that their UK Wrap Platform provides a financially secure service designed for UK advisers, family offices, trustees, discretionary fund managers, and their top tier clients.

Here is a summary of what it offers:

  • Over 3,600 retail & institutional funds
  • Over 640 Exchange Traded Funds (ETFs)
  • Over 300 Investment Trusts
  • Structured Products
  • Over 5000 OEICs & Unit Trusts
  • Model Portfolios
  • Equities
  • Fixed Term Cash Deposits
  • Offshore collectives including SICAVs
  • DFM options
  • Complex products & non-custody assets

Expensive mistake

I lost a lot of money to a so-called 'adviser'.

Extremely disappointed and really wish I knew more about how the commission and fees really worked beforehand.

Expert assessment of Platform One International

For overseas advisers where RDR does not apply, Platform One provides a traditional commission-based model, which could result in you paying hidden charges.

Our verdict is that Platform One is not a suitable platform on which to hold your money.

It is, in our view, too small, lacks the balance sheet, technological sophistication of other options, and risks allowing an overseas adviser to extract hidden commission.

If you are an existing overseas investor with Platform One International, and your portfolio is worth approx. £500,000 or more, we recommend a Second Opinion.

GET A SECOND OPINION

Platform One International Fact Sheet

Platform One International UK Fact Sheet

Platform One International - Account Activation Guide

Platform One Global Fact Sheet

Introducing Platform One

Platform One - Data Protection and Privacy Policy

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Services

Company

Contact

AES International

Level 2, Exchange Tower
Al Mustaqbal Street (Future Street)
PO Box 191905
Dubai
United Arab Emirates

 
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hello@aesinternational.com
+971 (0) 4559 4900
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The information in this material is intended for the recipient’s background information and use only. It is provided in good faith and without any warranty or, representation as to accuracy or completeness. Information and opinions presented in this material have been obtained or derived from sources believed by AES to be reliable and AES has reasonable grounds to believe that all factual information herein is true as at the date of issue. It does not constitute investment advice, recommendation, or an offer of any services or products for sale and is not intended to provide a sufficient basis on which to make an investment decision. It is the responsibility of any persons wishing to make a purchase to inform themselves of and observe all applicable laws and regulations. Unauthorised reproduction or transmitting of this material is strictly prohibited. AES accepts no responsibility for loss arising from the use of the information contained herein.

‘AES’ refers to the AES Group’s separate but affiliated entities generally, rather than to one particular entity. These entities are AES Middle East Insurance Broker LLC registered with the UAE Ministry of Economy, United Arab Emirates, Licence no. 571368, and Commercial Registration no. 75162 and regulated by the UAE Central Bank license no. 189; AES Financial Services Limited, incorporated and registered in England and Wales with company number 06063185, authorised and regulated by the UK Financial Conduct Authority FRN: 464494; AES Financial Services (DIFC) Ltd, registered in the Dubai Financial Centre (DIFC) as a foreign company, license no.2128, and regulated by the Dubai Financial Services Authority (DFSA) Reference No F003476; AES International Limited, a private company incorporated and registered in the British Virgin Islands with company number 1839872; AES International Global Limited, a private company incorporated and registered in the British Virgin Islands with company number 1887885. Please visit our authorisations page for further information on regulation, redress and accessibility.

If you are outside the UK and we advise you or carry out other business, nearly all the rules, regulations and arrangements made under the UK regulatory regime (including the rules made by the FCA and the dispute resolution process provided by the UK Financial Ombudsman Service) will not apply to most aspects of the service you receive, such advice or business being provided from outside the UK. You should therefore clearly understand such rights and protection as are afforded in the jurisdiction where you receive advice. Local law, regulation and redress processes will apply in almost all cases, and will be different from that of the UK.

RISKS

Investments involve risks. The investment return and principal value of an investment may fluctuate so that an investment, when redeemed, may be worth more or less than the capital invested. Past performance is not a guarantee of future results. There is no guarantee strategies will be successful. For further information, please click here.

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